New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>We have updated our tracker of homes for sale on Fletcher Building’s (FBU) Fletcher Living website.</li><li>Home sales are a key swing factor in FBU’s FY23E EBIT guidance of NZ$800-855m</li><li>Our tracker suggests sales rates have picked up in March which is a positive but March/April are key selling months so a pick up would be expected</li></ul>

We have updated our tracker of homes for sale on Fletcher Building’s (FBU) Fletcher Living website.Home sales are a key swing factor in FBU’s FY23E EBIT guidance of NZ$800-855mOur tracker suggests sales rates have picked up in March which is a positive but March/April are key selling months so a pick up would be expected

Fletcher Building: Fletcher Living – March Website Tracker Update